China's WuXi Biologics sells Irish vaccine plant to Merck & Co
Chinese biopharma contract manufacturing giant WuXi Biologics has sold a vaccine plant in Ireland to Merck & Co for 500 million euros (US$521 million).
The Hong Kong-listed contract research, development and manufacturing organization made the move ahead of potential US legislation that would restrict business for Chinese biotech companies.
Ireland's Foreign Direct Investment Agency (IDA) and Merck's MSD Ireland unit revealed the sale on Monday.
The companies expect to complete the transaction in the first half of the year. The Dundalk site will become part of the MSD existing network of five pharma manufacturing, research, and development sites in Ireland.
WuXi Biologics sells vaccine plant in Ireland to Merck & Co for 500 million euros (US$521 million).
The facility, which currently has around 200 employees, will house an additional 150 workers by the end of this year, according to the IDA.
WuXi AppTec said in December that its units had signed a deal with US private equity firm Altaris to sell the US and UK-based operations of its cell and gene therapy unit.
The potential passage of the Biosecure Act, which has not yet taken effect pending US senate approval, seeks to block a handful of Chinese firms, including WuXi Biologics, from obtaining federal contracts and working with biopharma firms that hold such contracts.
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